Elon Musk’s SpaceX Flips the Fundraising Switch: $500 Million Secured
SpaceX has just nailed a $500 million infusion, pushing its valuation sky‑high—over $30 billion. It’s the kind of money‑making magic that makes investors raise an eyebrow, and Musk’s grin just a bit wider.
Who’s in on the Deal?
- Existing shareholders plus the shiny new partner Baillie Gifford, the Scottish investment firm that’s adding a fresh splash of capital.
- The Wall Street Journal puts the valuation at a crisp 30.5 bn, and the story is spread by a handful of whizzes: @RolfeWinkler, Andy Pasztor and @realrobcopeland.
What’s the Money For?
All eyes are set on SpaceX’s ambitious satellite internet dream—Starlink. Think of it as the wild frontier where the company is building a 4,425‑satellite constellation (and then an extra 7,518 on the way). Launches kick off in 2019, with the network ready to roll once a minimum of 800 satellites are in orbit.
SpaceX and Baillie Gifford kept their mouths tight on the details, but the buzz is on: “We’re all in for a truly global broadband experience.”
